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  • 10. National Payment Systems

    Given the direct effects of replacing the unified number on certain operational processes and services provided by financial entities and institutions supervised by SAMA through the national payments systems, Mada and Sadad in particular, therefore, we shall emphasize what the Saudi Payments Company previously shared with the banks in this regard regarding the following:

    • Mada

      (1)Instant update of the commercial register number recorded in the Point of Sale Management System (TMS) for merchants with cash flow guarantee financing for POS devices based on SAMA Circular No. 391000064531 dated 05/06/1439 H on financing small, medium and micro enterprises by guaranteeing cash flows through point-of-sale devices.
       
      (2)The step of updating the commercial register number recorded in the Point of Sale Management System (TMS) for the rest of the customers shall be gradually included within the steps above, and new customers shall be registered using the new unified number starting with the number (7).
       

    • Sadad

      (1)When updating the commercial register number to the new unified number for any private sector establishment, the bank shall create a new customer file with the Sadad system and then automatically re-link the billing accounts linked to the establishment’s account to the previous register number, and this shall be done before 15/11/2020 G.